Bitcoin Moves Markets - Mine Digital
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Bitcoin Moves Markets

September 1, 2020 • 
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With the VIX diverging from S&P500 price action, gold and bitcoin holding up and USD dropping, moves may be imminent in the first half of September.

Morning Traders,

Volatility is creeping into traditional markets at the same time as the S&P500 having hit a key level. Additionally, the U.S. dollar index may have given up its idea of staging a counter-trend and gold rebounded well from the low (and silver trading higher overnight (now eased but trending higher).

BTC is doing something similar to gold, where it looks like it is in a holding pattern, but both assets look bullish.

The combination of equities hitting a key level, gold and bitcoin looking primed, volatility index increasing, record enthusiasm at record prices and the state of affairs means that we might see some moves the next 2 weeks. At a guess, we think equities lower, gold and bitcoin significantly higher, and the dollar index making the break it has been threatening to do.

Of course, we had been waiting for this for a couple of months and have been behind the market on it, but the USD does now look like it has stopped its sideways action and failed counter-trend.

Bitcoin

Bitcoin has recovered mildly from its low, taking the edge out of its bearishness. With the USD moves, it is a real candidate to make a serious move when USD begins to trade decisively lower. BTC last traded at $11,695.

24 hr high: $ 11,778

24 hr low: $ 11,570

BTC/USD Chart

Ethereum

Eth has been outperforming BTC of late and really looks like it wants to go a lot higher.

24 hr high: $ 439

24 hr low: $ 418

Ethereum USD Chart

Digital Assets

We have seen some good moves in assets overnight, with promising bids amongst some of the usual places.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.748742-4.6742611607995940691111
Algorand$ALGO0.508238-2.00505225815932408696241
Aragon$ANT8.3-4.0117482293545286982153
Balancer$BAL33.02-1.6292971693153244405438
Bancor$BNT1.996.611943208019130924004
Cardano$ADA0.1226545.106534645942673816795131
Chainlink$LINK15.92-4.0362910260451506121550622
Compound$COMP244.314.92058143778091794764176
Curve Finance$CRV4.0512.75732128228113104081756
Dai$DAI1.02-0.15529132663428450648454
Kyber Network$KNC1.826.95067103368798358427737
Loopring$LRC0.220954-6.5704454016097262604180
Maker$MKR678.730.5382843990104610863873
Meta$MTA8.9223.397853189972541115431
mStable USD$mUSD1-0.10816788712336059027
Ren$REN0.4794668.00077101197013420296380
Reserve Rights$RSR0.027977153.9777553849587189973660
Stellar$XLM0.097551-0.476691922545202009860828
Synthetix$SNX7.462.56491158364458871079432
Tezos$XTZ3.26-3.718441592317582356802825
Universal Market Access$UMA22.6244.21637667559201249917252
yearn.finance$YFI344554.262247210017581053686214

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